Loans

UTMB has several loan funds for students who need financial assistance: federal, state, institutional, and alternative. The purpose of all loan programs is to assist students unable to obtain sufficient support from other sources. In order to qualify for support from any federal loan program, the student must complete the FAFSA or Renewal FAFSA.

Federal Loans

Federal Direct Student Loan
The Federal Direct Loan Program provides a new and simpler way to obtain and repay student loans. There is a single lender—the U.S. Department of Education. The student will always make payments to the same Direct Loan servicer, even if the student receives Direct Loans at different schools. Direct Loans will not be resold, and students who have received loans at different schools will not have to seek deferments or forbearances from multiple lenders and/or guaranty agencies.

Parent Loan
If a parent of a dependent student is denied a FDPLUS loan as a result of poor credit, we will replace that PLUS loan with a Federal Direct Unsubsidized Stafford/Ford Loan (FDUSL) in accordance with the program maximum limits and guidelines.

Graduate Plus Loan
The Graduate PLUS loan program is part of the Federal Family Education Loan Program (FFELP) and allows you to borrow up to the difference between your educational costs and your financial aid award package.  The graduate student must apply for the maximum annual amount through the Federal Stafford Loan Program and must be a U.S. citizen or eligible non-citizen and creditworthy.

If students have questions concerning their Direct Loan accounts, they may call the Direct Loan Servicing Center at (800) 848-0979, or they may address their concerns in writing to: Borrower Services Department, Direct Loan Servicing Center, P.O. Box 4609, Utica, NY 13504-4609.  Payments on Direct Loans may be sent to: Direct Loan Payment Center, P.O. Box 530260, Atlanta, GA 30353-0260.

Perkins Loan Program
Students who apply for the Federal Perkins Loan Program must be United States citizens, or permanent residents of this country, and must be enrolled at least half time. Applicants must complete the UTMB Application for Financial Aid and the Free Application for Federal Student Aid. Undergraduates may borrow up to $3,000 during their freshman and sophomore years, and $4,000 per year during their junior and senior years. The total of an undergraduate’s loan may not exceed $15,000. Graduate students are eligible to borrow on the FPLP program also, but the combination of their undergraduate and graduate loans may not exceed $30,000.  Because limited funds are available, we institutionally reserve these funds for students with need in the School of Allied Health Sciences and the Graduate School of Biomedical Sciences in order to provide the same level of funding to all students.

Loans for Disadvantaged Students
The Loans for Disadvantaged Students program provides loans to full-time, financially needy students from disadvantaged backgrounds pursuing a degree in allopathic medicine, osteopathic medicine, dentistry, optometry, podiatric medicine, pharmacy or veterinary medicine.  Recipients are selected by making reasonable determinations of need and providing loans which do not exceed the cost of attendance (tuition, reasonable educational expenses and reasonable living expenses.

Nursing Student Loan Program
The Nursing Student Loan program provides loans to full-time and half-time financially needy students pursuing a course of study leading to a diploma, associate, baccalaureate or graduate degree in nursing. 

Primary Care Loan
The Primary Care Loan program provides loans to full-time, financially needy students to pursue a degree in allopathic or osteopathic medicine. The amount of Primary Care funds that can be approved for a student is governed by need analysis and amount of funds available. To be considered for this loan students must provide the parental data required on the Need Analysis Form, regardless of dependency status.  Students accepting awards from this program will be required to sign a promissory note agreeing to enter and complete a residency training program in primary care and practice primary care through repayment of the loan. Loans to third and fourth year students may be increased to repay outstanding balances on other loans taken out while in attendance at that school. Medical students receiving a Primary Care Loan must agree to enter and complete residency training in primary care within four years after graduation and practice in primary care for the life of the loan.

Institutional Loans

These loan programs are to assist students unable to obtain sufficient support from other sources. The loan funds described in this section of the booklet are available to students who meet the eligibility requirements specified for each fund and who maintain satisfactory progress in their educational programs.  Loan funds are intended to provide financial aid to meet established financial need and require that repayment begin after the student has finished the educational program.

Our service contractor for institutional loans is ACS, Inc. - Education Services, Campus Products and Services.

If you need to contact their customer service department,

ACS, Inc. - Education Services

Campus Products and Services

P.O. Box 7060

Utica, NY 13504-7060

(800) 826-4470

If you need to send payments:

ACS, Inc. - Education Services

Campus Products and Services

P.O. Box 7061

Utica, NY 13504-7061

The following loans are considered long-term aid and will be awarded only on the availability of funds:

*This program represents a consolidated fund of the donors/organizations listed on the following page.

Medical School Alumni Loan Program Donors

Our service contractor for institutional loans is ACS, Inc. – Education Services, Campus Products and Services.   

If you need to contact their customer service department,

ACS, Inc. – Education Services

Campus Products and Services

P.O. Box 7060

Utica, NY 13504-7060

(800) 826-4470.

If you need to send payments,

ACS, Inc. – Education Services

Campus Products and Services

P.O. Box 7061

Utica, NY 13504-7061

Texas Medical Association

The Texas Medical Association loan money at UTMB is an institution loan fund.  To be eligible a student must:

• Be enrolled in the School of Medicine.
• Have successfully completed at least one semester of medical school.
• Have established financial need.

This loan begins accruing at a rate of 4.4% from the date of disbursement, and interest payments will be payable annually on or before each subsequent anniversary for the promissory note.  Principle and interest payments begin in the fifth year after graduation and will be made in equal monthly payments for four years.

Repayment questions may be directed to:

Student Loans Department

Texas Medical Association

401 West 15th Street

Austin, Texas 78701-1680

(800) 880-2828

TMA website

Alternative Loans

If a student cannot meet the total cost of attendance with the financial assistance offered through Enrollment Services, alternative loans are available through the private sector (banks). You can search for lenders who have alternative loan programs available at the following website:

http://www.tgslc.org/factsheets/lenders/lender_list.cfm